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Insurance

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Large investor opposes FBL Financial Group’s bid to take company private

One of FBL Financial Group’s largest shareholders, New York-based Capital Returns Management LLC, is contesting FBL’s proposed merger and buyout offer to take itself private, saying the share price it’s offering to its unaffiliated shareholders …

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Apollo and Athene to merge in all-stock $11 billion deal

Private equity firm Apollo Global Management Inc. and Athene Holding Ltd., parent company of Athene USA, have entered into a definitive agreement to merge in an all-stock transaction that implies a total equity value of …

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COLA freeze for qualified retirement plans pulled from stimulus bill

The American Retirement Association said Thursday it has successfully lobbied for a provision to be pulled from the COVID relief bill that it said could have undermined retirement savings plans. The nearly $2 trillion American Rescue Plan …

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Stocks up in February; Iowa companies mostly positive

Thirteen of the 18 Iowa-based companies on the Business Record’s Iowa Index posted stock price gains for the month of February. Six companies posted double-digit percentage gains. Five Iowa-based stocks posted losses, with four being …

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F&G annuity sales top $1.3 billion in fourth quarter, up 23% year over year

F&G, a leading provider of annuities and life insurance based in Des Moines, reported operating results for the fourth quarter of 2020 as part of the quarterly earnings report of its parent company, Fidelity National …

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UFG Insurance enters agreement with Topsail Re

Cedar Rapids-based UFG Insurance has entered into a program management agreement with Topsail Re that will enable the two companies to share risks on certain lines of business, UFG announced. Topsail, a reinsurance group founded in 2018, …

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Principal and MetLife sign $1.2B pension risk transfer deal with Philips

Principal Financial Group and Metropolitan Tower Life Insurance Co., a subsidiary of MetLife Inc., announced they have entered into an agreement with health technology company Philips North America LLC to transfer approximately $1.2 billion of Philips North …

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Deere reports first quarter earnings

Deere & Co. reported net income of $1.224 billion for its first quarter ended Jan. 31, or $3.87 per share, compared with net income of $517 million, or $1.63 per share, for the quarter ended Feb. 2, …

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American Equity reports net loss in fourth quarter; quarterly sales up 100%

American Equity Investment Life Holding Co. on Wednesday reported a fourth-quarter net loss available to common stockholders of $6.3 million, or 7 cents per diluted common share, compared with net income available to common stockholders …

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GuideOne officials make case for reorganizing as stock company

Iowa’s insurance commissioner on Wednesday heard testimony from GuideOne Mutual Insurance executives to consider the company’s application to reorganize from a domestic mutual insurance company to a stock insurance company.

The reorganization, which would be …